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  • CA-B CA-B Scope of Application

    • CA-B.1 CA-B.1 Bahraini Insurance Licensees and Overseas Insurance Licensees

      • CA-B.1.1

        This Module applies to both Bahraini insurance licensees and overseas insurance licensees.

      • CA-B.1.2

        While the solvency requirements for Bahraini insurance firms and for overseas insurance firms are identical (as per Chapter CA-2), the calculation of the capital available varies based on the legal structure of the licensee, i.e. whether it is a locally incorporated company or a branch operation.

        Amended: January 2007

      • CA-B.1.3

        Bahraini insurance firms must calculate their capital available based on the shareholder's equity of the licensee (and other allowable elements of regulatory capital, as specified in Chapter CA-1). Overseas insurance firms must calculate their capital available based on their audited net assets, determined in accordance with accounting standards that would be applicable if they were a joint stock company incorporated in Bahrain.

        Amended: January 2007

    • CA-B.2 CA-B.2 Single Insurance Entity and Consolidated Insurance Entity

      • Single Insurance Entity (Unconsolidated)

        • CA-B.2.1

          Insurance licensees must apply the requirements of this Module as a single insurance entity, i.e. at the level of the unconsolidated company or branch. Any insurance activities of branches of Bahraini insurance licensees are included in the single insurance entity and are not subject to separate capital and solvency requirements.

          Amended: January 2007

      • Consolidated Insurance Entity

        • CA-B.2.2

          Overall capital and solvency requirements must be calculated for the consolidated Bahrain group (including the Bahrain insurance parent and subsidiaries). Bahraini insurance licensees must in addition apply the requirements of this Module at the consolidated level.

          Amended: January 2007

        • CA-B.2.3

          For purposes of Paragraph CA-B.2.1, where branches and subsidiaries are operating in jurisdictions outside of Bahrain, and are subject to capital requirements in these other jurisdictions that are equivalent or more stringent than the Bahrain requirements, these licensees will be considered to be in compliance with the requirements of this Module.

          Amended: January 2007

        • CA-B.2.4

          In instances where insurance licensees are uncertain as to the equivalency of the capital requirements of other jurisdictions where they operate, they should discuss these requirements with the CBB.

          Amended: January 2007